Petroleum Resource Management in Africa: Lessons From Ten Years of Oil and Gas Production in Ghana

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Notes

1 Acheampong and Stephens, ch 1, 2

2 Ferdinand Adadzi and Nana Serwah Godson-Amamoo, ‘The Oil and Gas Law Review: Ghana’ (AB & David Law Affiliates, 2021), 2 <https://thelawreviews.co.uk/title/the-oil-and-gas-law-review/ghana> accessed 4 March 2022

3 Acheampong and Stephens (n 1), ch 1, 2

4 Petroleum (Exploration and Production) Act, 2016, Act 919 (Ghana)

5 Petroleum (Exploration and Production) Act, 1984 (Ghana)

6 Acheampong and Stephens (n 1), ch 1, 14–23

7 Ibid, 10–14

8 The Ghana National Petroleum Corporation LAW 1983 P.N.D.C.L 64 (Ghana); see Acheampong and Stephens (n 1), ch 2, 2

9 Acheampong and Stephens (n 1), ch 2, 3

10 Ibid, ch 2, 3–33

11 Ibid, ch 3, 1–3; see Petroleum (Exploration and Production) Law, 1984 (PNDCL 84) (Ghana); Petroleum Income Tax Law, 1987 (PNDCL 188) Ghana

12 Acheampong and Stephens (n 1), ch 3, 7–8

13 Ibid, ch 4, 1–3

14 Petroleum Exploration and Production (Health, Safety and Environment) Regulations, 2017 (L.I.2258) Ghana

15 Acheampong and Stephens (n 1), ch 4, 5–9

16 Ibid, ch 4, 10–17

17 Ibid, ch 5, 1–16

18 Ibid, ch 6, 1–6

19 Côte d’Ivoire’s Request for Provisional Measures, translated into English in transcript of International Tribunal for Lawof the Sea (ITLOS) proceedings held on 29 March 2015, 1-2. See the International Tribunal for the Law of the Sea 'Dispute Concerning Delimitation of the Maritime Boundary Between Ghana and Cote D'Ivoire in the Atlantic Ocean (Ghana/Cote D'Ivoire)' ITLOS/PV.15/C23/2/Corr.1 available at https://www.itlos.org/fileadmin/itlos/documents/cases/case_no.23_prov_meas/pvs/ITLOS_PV15_C23_2_Corr.1_E.pdf [accessed 29 March 2022]

20 United Nations Convention on the Law of the Sea 1982

21 Edward B Barbier, ‘The Role of Natural Resources in Economic Development' (2003) 42(2) Australian Economic Papers 253; Organisation for Economic Co-operation and Development, The Economic Significance of Natural Resources: Key Points for Reformers in Eastern Europe, Caucasus and Central Asia (A Report of the Organization for Economic Cooperation and Development, 2011), 9–12 <www.oecd.org/env/outreach/2011_AB_Economic%20significance%20of%20NR%20in%20EECCA_ENG.pdf> accessed 21 February 2022

22 Acheampong and Stephens (n 1), ch 7, page 4–16; see H Abdo, ‘Investigating the Effectiveness of Different Forms of Mineral Resources Governance in Meeting the Objectives of the UK Petroleum Fiscal Regime’ (2014) 65 Energy Policy, 48

23 Acheampong and Stephens (n 1), ch 7, 17–19

24 Ibid, ch 7, 19–29; see P Daniel and others, ‘Evaluating Fiscal Regimes for Resource Projects; an Example from Oil Development’ in P Daniel, M Keen and C Mcpherson (eds), The Taxation of Petroleum and Minerals: Principles, Problems and Practice (Routledge, 2010), 187; see also R Ferreira da Cunha and A Missemer, ‘The Hotelling Rule in Non-Renewable Resource Economics: A Reassessment’ (2020) 53(2) Canadian Journal of Economics/Revue canadienne d'économique, 800

25 Acheampong and Stephens (n 1), ch 8, 1–3

26 Ibid, ch 8, 4–32

27 Duncan Bonfield and Steve Wallace, ‘Investing for Growth and Prosperity: In Africa Sovereign Wealth Funds Focus on G, S and E’ (International Forum of Sovereign Wealth Funds and Franklin Templeton, 2021) 12 available at https://www.ifswf.org/sites/default/files/IFSWF_Africa_Paper_v2.pdf [accessed 29 March 2022]

28 Thorsten Beck, ‘The Role of Finance in Economic Development: Benefits, Risks, and Politics’ European Banking Center Discussion Paper No. 38 (2011) <https://ssrn.com/abstract=1974471> accessed 21 February 2022; International Monetary Fund, ‘IMF Survey: Natural Resources Can Play Key Role in Inclusive Growth' (IMF Survey, 26 March 2014) <www.imf.org/en/News/Articles/2015/09/28/04/53/socar032414b> accessed 21 February 2022

29 Otmar Issing, ‘The Role of Fiscal and Monetary Policies in the Stabilisation of the Economic Cycle’ Paper delivered at the European Central Bank International Conference ‘Stability and Economic Growth: The Role of the Central Bank’ Mexico, 14 November 2005 <www.ecb.europa.eu/press/key/date/2005/html/sp051114.en.html> accessed 21 February 2022

30 Alvydas Raipa and Egle Backunaite, ‘Fiscal Transparency and Accountability in the Public Management Methodology’ (2004) 8(1) Public Policy and Administration Research Journal 1; International Monetary Fund, ‘The Role of Transparency and Accountability for Economic Development in Resource-rich Countries’ (2005) <www.imf.org/en/News/Articles/2015/09/28/04/53/sp012705> accessed 21 February 2022

31 Acheampong and Stephens (n 1), ch 10, 3–13; see also Eduardo G. Pereira and others, ‘Carrot or Stick? Enforcing Compliance with Local Content Requirements in the International Oil and Gas Industry’ (2021) OGEL 1 <https://www.ogel.org/journal-advance-publication-article.asp?key=695>

32 Damilola S Olawuyi, ‘Local Content and the Sustainable Development Nexus’ in Damilola S Olawuyi (ed) Local Content and Sustainable Development in Global Energy Markets (Cambridge University Press, 2021) 1, 7. See also United Nations Conference on Trade and Development, Local Content Requirements and the Green Economy (2014) 4–6, <https://unctad.org/en/.PublicationsLibrary/ditcted2013d7_en.pdf> accessed 21 February 2022; Abdulkabir Niran Adedeji and others, ‘The Role of Local Content Policy in Local Value Creation in Nigeria’s Oil Industry: A Structural Equation Modeling (SEM) Approach’ (2016) 49 Resources Policy 61; Lise Johnson, Space for Local Content Policies and Strategies (2016) A Report of the Colombia Center on Sustainable Development <https://scholarship.law.colombia.edu/sustainable_investment_staffpubs/16> accessed 21 February 2022

33 A. Elias-Roberts, ‘A Review of the Legal Framework of Local Content Provisions in Guyana’ (2020) 2 Oil, Gas & Energy Law <www.ogel.org/article.asp?key=3880> accessed 04 October 2020. See also Sherry Stephenson, Addressing Local Content Requirements in a Sustainable Energy Trade Agreement (International Centre for Trade and Sustainable Development, 2013), 4–5; and Eduardo G. Pereira, Christopher Matthews and Heike Trischmann, ‘Local Content Policies in the Petroleum Industry: Lessons Learned’ (2019) 4(5) Oil and Gas, Natural Resources and Energy Journal 632

34 EN Kumi, The Electricity Situation in Ghana: Challenges and Opportunities (Center for Global Development, 2017) 30; T Acheampong, BO Menyeh and DE Agbevivi, ‘Ghana’s Changing Electricity Supply Mix and Tariff Pricing Regime: Implications for the Energy Trilemma’ (2021) 19(3) Oil, Gas & Energy Law 1-28

35 Ibid

36 International Energy Agency, ‘The Role of Gas in Today’s Energy Transitions’ (2019) <www.iea.org/reports/the-role-of-gas-in-todays-energy-transitions> accessed 21 February 2022. See also Norsyahida Mohammad and others, ‘Natural Gas as a Key Alternative Energy Source in Sustainable Renewable Energy Transition: A Mini Review’ (2021) 9 Frontiers in Energy Research 1; C Gursan and V de Gooyert, ‘The Systemic Impact of a Transition Fuel: Does Natural Gas Help or Hinder the Energy Transition?’ (2021) 138 Renewable and Sustainable Energy Reviews 1; United Nations Economic Commission for Africa, ‘Natural Gas: Africa’s Energy Transition Accelerator’ <www.uneca.org/sites/default/files/keymessageanddocuments/technical_background_paper-phasing_out_coal_and_the_role_of_the_natural_.pdf> accessed 21 February 2022

37 Eduardo G Pereira, Eddy Wifa, and Jonathon W Moses, ‘Designing Regulatory Governance Models for Managing Hydrocarbon Resources: Lessons Learned from Norway and the UK’ (2020) 11(2) Journal of Sustainable Development and Policy 251

38 Acheampong and Stephens (n 1), ch 12, 1–37

39 Ibid, ch 13, 3–13

40 AM Acosta and A Heuty, ‘Can Ghana Avoid the Oil Curse? A Prospective Look into Natural Resource Governance’ (2009) Policy briefing prepared for the UK’s Department for International Development (DfID), 31 <www2.ids.ac.uk/gdr/cfs/pdfs/Ghana_oil_curse_DFIDbriefing_May09.pdf> (accessed 12 September 2016)

41 Acheampong and Stephens (n 1), ch 14, 2–6

42 K Appiah-Adu, Governance of the Petroleum Sector in an Emerging Developing Economy (Routledge 2016)

43 H Baumüller and others (2011). ‘The effects of oil companies’ activities on the environment, health and development in Sub-Saharan Africa’ (Directorate-General for External Policies, European Parliament, 2011) available at http://publications.europa.eu/resource/genpub/PUB_QA114362ENN.1.1 [accessed 29 March 2022]; see M Cowling, Norman Geras’s Political Thought from Marxism to Human Rights: Controversy and Analysis (Springer 2018)

44 Acheampong and Stephens (n 1), ch 14, 7–19

45 Ibid, ch 15, 1–2; see D Acemoglu and J Robinson, Why Nations Fail (Crown Publishing 2012)

46 Acheampong and Stephens (n 1), ch 15, 3–8

47 Ibid, ch 15, 8–18

48 Ibid, ch 16, 4–9; see also H Wang, ‘OPEC Long-Term Forecast Sees Global Oil Demand Plateauing in 15–25 Years’ (2021) <www.spglobal.com/platts/en/market-insights/latestnews/oil/092821-opec-long-term-forecast-sees-global-oil-demand-plateauing-in-15-25-years> accessed: 4 March 2022; BBC, ‘Climate Change: China Aims for “Carbon Neutrality by 2060”’ (2021) <www.bbc.co.uk/news/science-environment-54256826> accessed 4 March 2022; G Peszko and others, Diversification and Cooperation in a Decarbonising World: Climate Strategies for Fossil Fuel-Dependent Countries (World Bank 2020)

49 T Acheampong, M Ashong and VC Svanikier, ‘An Assessment of Local-Content Policies in Oil and Gas Producing Countries’ (2016) 9 Journal of World Energy Law & Business 282

50 Pereira, Matthews and Trischmann (n 33).

51 International Trade Administration, ‘Ghana – Country Commercial Guide: Oil and Gas’ (2020) <www.trade.gov/knowledge-product/ghana-oil-and-gas> accessed 28 October 2021

52 R Grimble and K Wellard, ‘Stakeholder Methodologies in Natural Resource Management: A Review of Principles, Context, Experiences and Opportunities’ (1997) 55(2) Agricultural Systems 173; G Gass, S Biggs and A Kelly, ‘Stakeholders, Science and Decision-Making for Poverty-Focused Rural Mechanization Research and Development’ (1997) 25(1) World Development 115; A Buanes, and others, ‘In Whose Interest? An Exploratory Analysis of Stakeholders in Norwegian Coastal Zone Planning’ (2004) 47 Ocean & Coastal Management 207

53 Erik E Cordes and others, ‘Environmental Impacts of the Deep-Water Oil and Gas Industry: A Review to Guide Management Strategies’ (2016) 4 Frontiers in Environmental Science 58; Jacqueline B Mariano and Emilio L La Rovere, ‘Petroleum Engineering-Downstream-Environmental Impacts of the Oil Industry’ in United Nations Educational Scientific and Cultural Organization Encyclopedia of Life Support Systems (EOLSS) available at <https://www.eolss.net/Sample-Chapters/C08/E6-185-18.pdf> accessed 21 February 2022

54 Maria J Mimoso, ‘How Oil Contracts Affect Human Rights’ (2018) 3(4) European Journal of Multidisciplinary Studies 30; United Nations Environmental Program Finance Initiative, ‘Human Rights Guidance Tool for the Financial Sector: Oil and Gas’ <www.unepfi.org/humanrightstoolkit/oil.php> accessed 21 February 2022

55 See generally the United Nations, ’Theme Report on Energy Transition: Towards the Achievement of SDG 7 and Net-Zero Emissions’ (United Nations High-Level Dialogue on Energy 2021) <www.greengrowthknowledge.org/research/theme-report-energy-transition-towards-achievement-sdg-7-and-net-zero-emissions> accessed 21 February 2022; see also A Ilyas and others, ‘Natural Resource Management for Sustainable Development in Managing Environmental Permit’ (2019) Earth and Environmental Science 343; Manjeet K Kaushal, ‘Resource Management and Sustainable Development’ (2010) 1(1) International Research Journal of Management Sociology & Humanity 122

56 Stephen T. Odonko, ‘Knowledge, Attitude, and Adaptation to Climate Change in Ghana’ (2020) Scientific World Journal < https://www.hindawi.com/journals/tswj/2020/3167317/> accessed 4 March 2022

57 Pereira, Matthews and Trischmann (n 33)

58 Ibrahim Khalidov, Konstantin Milovidov, and Anzor Soltakhanov, ‘Decommissioning of Oil and Gas Assets: Industrial and Environmental Security Management, International Experience and Russian Practice’ (2021) 7(7) Heliyon 1; Li Jia and others, ‘Decommission in Petroleum Industry: Current Status, Future Trends and Policy Advices’ (2019) IOP Conference Series: Earth and Environmental Science 237

59 Jai and others (n 58)

60 Ibid

61 Dag Erlend Henriksen, ‘The Legal Framework for Carbon Capture and Storage in Norway’ (2012) WL 1. https://content.next.westlaw.com/0-521-9178?__lrTS=20220223011656727&transitionType=Default&contextData=(sc.Default)&firstPage=true

62 Paolo Gabrielli, Matteo Gazzani, and Marco Mazzotti, ‘The Role of Carbon Capture and Utilization, Carbon Capture and Storage, and Biomass to Enable a Net-Zero-CO₂ Emissions Chemical Industry’ (2020) 59(15) Industrial & Engineering Chemistry Research 7033; Berend Smit, Ah-Hyung A. Park, and Greeshma Gadikota, ‘The Grand Challenges in Carbon Capture, Utilization, and Storage’ (2014) Frontiers in Energy Research 1